Archive for the ‘Mitsubishi’ Category

In 1992, The Economist declared Japan’s pulp and paper industry dead. During the economic boom in the 1980s, the pulp and paper industry had expanded rapidly. Massive new paper capacity came on stream just as the economy collapsed in the early 1990s. Oji Paper attempted to buy its way out of crisis, buying Kanzaki Paper and then Honshu Paper.

Oji Paper has dropped its hostile takeover bid of rival company Hokuetsu Paper Mills Ltd. Oji planned to spend US$1.4 million to take a controlling share in Hokuetsu, Oji President Kazuhisa Shinoda said Oji would be unable to acquire more than about 28 to 32% of shares in Hokuetsu.